Looking at my first deal. need advice

[Keith Belzner]

Hi BP,

  I meet with my first owner this evening, nervous to say the least. Looking for input as to what I know so far. A few things first, I do not have it under contract. I have not seen it due to current tenants, will be seeing it this weekend. With that I do not know what repairs are needed yet just what the owner has told me, taking it at face value from him. I have let him know that i can't give numbers until i see it. Here is the info I have so far:

Currently rented: $1600 month  The lease is up the end of May.

Located in Nottingham MD 21236  3 story townhome  3 / 1.5 

He purchased in 2007 for 239K  with a balance of 140K now. taxes $2856   (did not get the payment #)

local comps are 210 - 225  with avg day on market of 30

He said he wants 215k via zillow.    Hes looking to get out of land lording and move out of state soon. 

My main question is what would be a number that would make this a deal? My thoughts are this would be a buy and hold or if i can get it low enough ie. 145-150 range might be a doable wholetail type. I am not hopeful but just wanted some input and advice. My preliminary call is no thanks and move on. I am going over all the numbers more from a learning standpoint but if it has potential then who knows.

Thanks in advance